XLF, LGEM: Big ETF Outflows
ETF Channel Staff - Thursday, November 15, 12:48 PMTurning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the Financial Select Sector SPDR Fund (XLF), which shed 9,900,000 shares, or a 1.8% decrease week over week.
And on a percentage change basis, the ETF with the largest outflow was the Basic Materials GEMS ETF (LGEM), which lost 50,000 of its shares, for a whopping 33.3% decline in outstanding shares. Among the largest underlying components of LGEM, in morning trading today Anglogold Ashanti Ltd (AU) is off about 2%, and Gold Fields Ltd Adr (GFI) is lower by about 1.9%.